The market volatility shakes the $ 1.5 billion Pudgy Penguins on Solana.

• At the Airdrop start of Pudgy Penguins's pengu token, there were violent price fluctuations.
• The Pengu trade volume reached $ 90 million within a few hours, with traders earning millions and making other losses.
• Large exchanges lists Pengu, as the NFT prices rise and then fall after the sale of token claims.

The NFT project Pudgy Penguins caused a sensation in the world of cryptocurrencies with the introduction of its native tokens Pengu on the Solana Blockchain with a massive token-airdrop worth 1.5 billion US dollars.

The Pengu token announced on December 5 is to deepen the connection between the Pudgy Penguins brand and its growing global community.

Pengu-airdrop details and right to participate

The Pengu-Airdrop, which went at 8:00 a.m., is open to Pudgy Penguins, Lil Pudgys, Rogs and Soulbound Tokens (SBTS). In addition, owners of Pudgy Toys are also eligible to participate, plush collectors that are linked to the pudgy World Metaversum.

To claim the tokens, users have to link their Solana and Ethereum wallets and hold them worth at least $ 10 for gas fees. With a claim period of 88 days, all non -stressed tokens are permanently burned, which reduces the circulation.

penguins and justified parties can assert their claims $ Pengu now.

The claim page remains active for 88 days and the unused Pengu is blocked forever in the smart contract.

hereby: https://t.co/eadj17ncos pic.twitter.com/wzywuefwmc

-pudgy-penguins (@pudgypenguins) 17. December 2024

of the 88.88 billion Pengu tokens, 25.9 % of the Pudgy Penguins community, 24.12 % other NFT owners and "Huddle" members and 17.8 % are assigned to the project team as part of a one-year blocking period and a three-year blocking period. Another 11.48 % are reserved for the company with similar exercise conditions.

Despite the initial success, Pengu's start was affected by technical problems. The applicants reported difficulties, among other things, they received less tokens than allocated. A member of the Pengu team attributed this to DDOS attacks (Distributed Denial of Service), which led to delays and errors and assured users that unused tokens could still be called up.

New Claim-Patches/Updates published ✅

update your claim and restart it. What you have previously claimed should be reported as "stressed" and show that you still want to be entitled to it.

Ledger corrections/updates should follow shortly afterwards.

appreciate the patience of everyone. We had one ...

- Chefkoch (@chefgoyardi) 17. December 2024

The pudgy Penguins ecosystem lists an explosive market activity

Within a few hours after its introduction, Pengu generated a trade volume of $ 90 million and increased by more than 870 % in value to an all-time high of $ 0.06845. His market capitalization also rose to over $ 3 billion and secured him a place among the top 200 cryptocurrencies.

However, the token's debut was not without setbacks. After the value of Pengu reached the ATH at $ 0.06845, it dropped by 51 % to around $ 0.03232 at the time of printing, which illustrates volatility, which often occurs when new tokens are introduced.

A clever dealer used the price increase and bought 239.6 million Pengu with 23,742 SOL before he paid it up for 60,726 SOL and in just 20 minutes an incredible profit of $ 8.36 million.

A dealer made incredible 36.984 $ Sol (8.36 MIO. USD) Winning through trade $ pengu in less than 20 minutes.

as soon as $ Pengu After the start, the dealer gave 23.742 from $ Sol (5.36 million USD), to buy 239.6 million target = "_ blank" href = "https://twitter.com/search?q=%24pengu&src=ctag&ref_src=twsrc%5etfw"> $ pengu and later sold it for 60.726 $ Sol (13.72 million USD).

A huge profit! 😱 https://t.co/Hipkzxzjes pic.twitter.com/z5zdkl3cfn

- Lookonchain (@lookonchain) 17. December 2024

On the other hand, a dealer lost $ 10,000 due to the low liquidity and received only $ 78 token worth $ 3 due to the low liquidity. This misfortune underlines the risks of trade in mining pool with low liquidity.

someone bought $ 14t mc transformed its 10,000 $ in seconds in 5 $ lmfao pic.twitter.com/r9x9tou2fn

- bx1 (@bx1core) 17. December 2024

The Airdrop also influenced Pudgy Penguins' NFT market. The minimum price of the collection briefly rose to 34.1 ETH (approx. $ 136,000) and thus consolidated its position as the second most taxable NFT collection according to Cryptopunks. However, after the Airdrop, sales led to a drop in prices, with some NFTs falling below $ 63,000.

binance, okx and bybit lists pengu-token on

The Pengu token is now listed on large exchanges such as Binance, OKX and Bybit.

Binance even added permanent Pengu/USDT contracts with a leverage of up to 75 times. These developments underline the growing importance and the market potential of the tokens.

For the future, Pengu plans to expand the functionality by Ethereum and the Abstract Chain Layer 2. A layerzero bridge is also under the development that enables owners of Pudgy Toy to demand token seamlessly.

With increasing maturity of the ecosystem, the future of the Pengu token will depend on its ability to maintain the commitment of the user and to find their way around the volatile cryptol landscape.